A marketing plan gives real estate agents direction, motivation, and goals to achieve. The most successful agents create a written marketing plan at least once a year. An effective plan is clear, concise, and comprehensive. Learn how you can create a master real estate agent marketing plan to take your career to the next level.
The first step in any market plan is defining the objectives. State your vision as an agent, such as being the top producer in the area, cornering a certain niche or earning a specific amount of money. Then reinforce the vision by setting measurable goals. Be specific, such as getting 35 listings in the next year or receiving referrals from 50 percent of your network of past clients and industry professionals. Set attainable goals that are building blocks for future success.
Establish the Target Market
Once objectives and goals are defined, determine the target market. A target audience might be a particular age, such as millennial buyers or retirees. Agents can target people in a specific income bracket, such as first-time home buyers or luxury property buyers and sellers. Another possibility is people in various professions who might want to live in the area to be close to work. Some agents focus on a definitive geographic area. Narrow down the target market then find out what they want. Be ready to offer info about the housing market, financing, and other areas of concern.
Know the Competition and What Makes You Different
Research the market and competing agencies. Determine how competitors are marketing themselves. Perform a SWOT analysis to define strengths, weaknesses, opportunities, and threats. Create a mission statement based on your business value, philosophy, and what makes you unique. Develop a list of your qualifications and assets, such as knowledge about a specific niche, participation in a community or professional group, and educational accomplishments. Creatively incorporate them into your marketing efforts. Speak in a way that resonates with your target audience.
Choose a Message and Media
Determine the two or three significant needs and consideration of your target market. Offer ideas, solutions, and valuable information. Focus on what matters to your audience, such as security or a luxury lifestyle. Find out where they gather information, such as social media sites, local publications, educational sessions at local groups, and more. Develop marketing campaigns using these media choices. Include contact information with a link to your website and blog. Choose a consistent day to publish blog articles and post on social media. Include videos, market updates, the latest listings, and community happenings that might interest your target group.
Have a Scheduled Plan and Budget
Consistency is vital to transform leads into clients. Commit to two or three specific marketing campaigns, such as email or text messages and posting and sharing blog articles. Repetition is what makes people recognize a personal brand. Quality content builds trust and includes a call to action, so people know what to do and why. Figure out a marketing budget and what is in the budget. For example, busy agents might want to outsource blog article writing to a freelance professional. Know the costs, so that the campaigns run for a defined period, such as six months or a year.
Measure the Progress
A real estate agent marketing plan is meaningless when the agent does not know how well it works. Measure the results of each marketing strategy. Use letter codes to track mailings. Ask callers how they found out about you. Create a landing page for online marketing efforts. If a strategy doesn’t work, stop spending money on it. Redirect your efforts to a different method, such as distributing brochures at local businesses or speaking at seminars and events.
Control the Plan
Ultimately, an agent must exercise control over the marketing plan. Re-evaluating goals and strategies is often necessary long before the end of the year. For example, changing market conditions may impact your target market and how to reach out to potential customers. A new social media site might be a viable way to spread the word about your brand. Be flexible and stay in control of the plan at all times. While the plan is meant to provide discipline to achieve or exceed your goals, flexibility is also crucial to staying successful in a constantly evolving industry.
A written real estate agent marketing plan becomes the guidebook for your career. Periodically review the plan to fine tune your marketing approach. Measure the results and make updates as necessary. A well-crafted marketing plan helps agents achieve more sales, get more referrals, and earn more money.